Gold prices fell on Thursday, July 22nd, to near the lowest level in more than a week, under pressure from a stronger dollar and rising risk appetite, while investors awaited the European Central Bank’s meeting scheduled for today. By 05:14 GMT, the spot price of gold was down 0.2% to …
Read More »China Rejects WHO Plan to Re-investigate Origins of COVID-19
A senior health official said that China has rejected the World Health Organization’s plan to conduct the second stage of investigation into the origin of the Coronavirus, which includes the hypothesis that it may have leaked from a Chinese laboratory. The World Health Organization this month proposed conducting a second …
Read More »Oil Scores Gains Above 4% for First Time in Three Months
Oil prices surged on Wednesday, maintaining a rising trend for the second consecutive session, following a huge drop at the beginning of the week, despite data showing another increase in crude inventories in the U.S., with markets witnessing a broader improvement in risk appetite among investors. Brent crude futures for …
Read More »Gold Registers Biggest Daily Drop in Two Weeks
Gold prices resumed losses on Wednesday, falling for the third time in four sessions, despite a mixed performance by the U.S. Dollar (USD) with lower demand for safe havens as stock markets surged to recover from earlier declines. The yellow metal’s front-month futures Gold for July delivery lost $8.00, or …
Read More »U.S. Oil Inventories Rise for Ninth Week in Row
Crude oil inventories in the United States continued to increase for the ninth consecutive week, adding 2.1 million barrels in the week ending July 16, according to official figures released on Wednesday. The U.S. Energy Information Administration (EIA) reported a decline in gasoline stockpiles by 100,000 barrels, while distillate inventories …
Read More »Oil Prices Turn Higher Despite Surprise Build in US inventories
Oil prices reversed upwardly and continued achieving gains for the second session in light of the growing risk appetite, despite data showing a sudden increase in US crude stocks last week and a decrease in demand expectations due to the growing infection cases with the Covid-19 virus. Brent crude futures …
Read More »Gold Prices Fall as Dollar Rises
Gold prices fell, heading for losses for the second session in a row, as the dollar’s gains and the recovery of US Treasury bond yields weighed on the metal’s safe-haven attractiveness amid fears of the rapidly spreading Delta variant of the Coronavirus. The spot price of gold fell 0.2 percent …
Read More »Crude Oil Prices Fall on Unexpected Surge in US Stocks
Oil prices fell after a sector report showed an unexpected increase in US crude stocks last week, stoking fears that a new surge in Covid-19 infections could reduce demand for fuel. Brent crude futures fell 36 cents, or 0.5 percent, to $ 68.98 a barrel at 0628 GMT, giving up …
Read More »Oil Edges Higher Recording Large Weekly Decline amid Uncertainty
Oil prices saw a modest increase on Friday but to failed to recovery its large weekly losses, the biggest in about two months, which are mostly due to uncertainty about a new production policy agreement by the OPEC+ alliance, despite recent reports suggesting extending the current deal until the end …
Read More »Gold Closes Lower to Narrow Weekly Rise
Gold prices decreased on Friday, limiting its fourth consecutive weekly rise, amid fluctuations by the U.S. (USD) that seem to be struggling for direction after the recent remarks by the Federal Reserve Chair Jerome Powell relatively eased concerns about the recent surges in inflation. Gold futures front-month contracts for July …
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